Archive for May, 2012


Be mindful of the national real estate statistics. They don’t accurately represent our local market here. Here is a quick market update for the 1st quarter of this year for Bucks County Real Estate. As you can see, compared with the 1st quarter of 2011, the good points for this year: our average sales price has increased, there are more sold homes this year, there are less homes sitting on the market, and the average time it takes to sell a home is shorter this year, compared with last year.



Here is how our Bucks County Real Estate market looks like year to date, so far.  We are seeing improvements in the number of sold homes, higher average sale price over last year.


Have more questions or comments? Would like a market valuation of your home? Please contact Olga.



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Are you thinking about investing in real estate and becoming a landlord? If so, you should consider coming to this workshop to learn about landlord tenant relationships, issues and rules. Have more questions? Contact me.

Landlord Workshop
The Bucks County Fair Housing Committee is hosting a Free Landlord Workshop. They will provide info and advice on landlord/tenant issues: What is the landlord’s responsibility for property left behind? What is reasonable accommodation/access for a disabled person? What are the rules on occupancy limits? What rights and obligations exist with respect to security deposits? Speakers – Magisterial District Judge Daniel J. Finello, Jr.; Jim Berry, Fair Housing Council of Suburb and Phila, Dave Bennethum, Esq., Legal Aid of Southeastern PA.

Date: Thursday, May 10
Time: 8:15am – registration, coffee and pastries; 8:30 to 10:00am – program
Location: Warminster Recreational Center, 1101 Little Lane, Warminster
Reservations are required. Please RSVP by May 4 to Rona at 215-781-1111, ext. 200 or efritsch@lasp.org

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1. What is Credit Scoring?
A credit score is designed to measure the risk of default of borrowers. It takes account various factors of a person’s financial history. The most popular form of credit scoring is the FICO score, in which majority of lenders use to determine your financial risk. This is used by the three major credit bureaus: TransUnion, Experian, and Equifax.

2. Why is Credit Scoring Important?
Credit Scoring is one of the most significant factors when it comes to getting a mortgage. The issue is that many times information on a credit report doesn’t truly reflect the credit worthiness of potential borrowers.

3. Will my FICO score drop if I apply for new credit? If it does, it probably won’t drop much. If you apply for several credit cards within a short period of time, multiple inquiries will appear on your report. Looking for new credit can equate with higher risk, but most credit scores are not affected by multiple inquiries from auto, mortgage or student loan lenders within a short period of time. Typically, these are treated as a single inquiry and will have little impact on the credit score.

4. How to improve a FICO score:
Generally, people with high FICO scores consistently:
–Pay bills on time.
–Keep balances low on credit cards and other revolving credit products.
–Apply for and open new credit accounts only as needed.
Also, here are some good credit management practices that can help to raise your FICO score over time.
–Re-establish your credit history if you have had problems. Opening new accounts responsibly and paying them on time will raise your FICO score over the long term.
–Check your own credit reports regularly, before applying for new credit, to be sure they are accurate and up-to-date. As long as you order your credit reports through an organization authorized to provide credit reports to consumers, such as myFICO, your own inquiries will not affect your FICO score.

5. Top 5 factors driving scores down:
–Accounts which are currently showing past due
–Derogatory trade lines (recent lates on accounts)
–High balances on unsecured debt (credit cards)
–Unpaid and recent public record information
–Lack of open active trade

6. Top 5 Ways to increase scores
Negotiate with creditors. When an account has only 1 late and it is recent- tell creditor how long account has been open in good standing and request a one-time courtesy removal.
Negotiate with collection agencies. When a settlement is offered by agency, before paying off, counter the offer by requesting removal of account upon payment.
Paying off or paying down revolving debt. Try to get balance below 50% of the credit limit. Transferring balances is sometimes possible when little or no cash is on hand.
Student Loan Late Payments. Many times student loans are in deferment and being reported late due to paperwork not being supplied to the lender. Contact lender and supply proof of student status and request removal of late.
Installment Loans. In most cases, don’t waste time paying off or down these loans as they have little impact on the scores.

Experian 800-222-4930 http://www.experian.com/dispute
Equifax 800-203-7843 http://www.credit.equifax.com
TransUnion 800-916-8800 http://www.tuc.com
http://www.optoutprescreen.com (pre-approved & triggers) or 888-567-8688
http://www.gethuman.com (avoid automated calls)

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